Companies Investments

Riyadh - Mubasher: Amana Cooperative Insurance has filed a request to the Capital Markets Authority of Saudi Arabia (CMA) to raise its capital. Amana is seeking to increase its capital, and it has appointed the National Commercial Bank’s NCB …

Riyadh - Mubasher: Saudi Public Transport Company (SAPTCO) announced on Tuesday that its subsidiary Public Transport Company has acquired a SAR 59 million murabaha finance for six months from the Arab National Bank. The murabaha loan deal will …

Mubasher: KAMCO Investment (KAMCO) on Tuesday announced receiving the approval of the Capital Markets Authority (CMA) to acquire the majority of Global Investment House (Global). KAMCO intends to buy around 396.43 million shares from Global, which …

Riyadh – Mubasher: Jabal Omar Development Company on Tuesday announced that it has extended a non-binding memorandum of understanding (MoU) with Saudi Ground Services Company (SGS) for one more year until 22 February 2019. The MoU aims at …

Mubasher: Cairo-based Telecom Egypt is raising a $500 million syndicated loan to boost operating and capital expenses, the UAE-based banks leading the transaction said. The five-year facility arrangers, First Abu Dhabi Bank and Mashreq Bank, have …

Dubai – Mubasher: Arabtec Holding unveiled that its subsidiary, Arabtec Engineering Services, has been awarded an AED 155 million contract by Dubai Municipality for its DS189 work on sewerage and drainage infrastructure in Al Khawaneej area. The …

Dubai - Mubasher: Kleindienst Group, the developer of The Heart of Europe, has unveiled the first Sweden Beach Palace at Sweden Island. The Heart of Europe is a cluster of six islands based on destinations across Europe including islands of …

Mubasher: Aayan Leasing and Investment announced it has received the entire value of selling investments in Oman as disclosed on Sunday. Aayan Leasing’s direct share in this exit transaction stands at KWD 2.9 million, while it will register about …

Abu Dhabi – Mubasher: Khalifa City in Abu Dhabi is set to house a new dedicated maternity hospital. The new European Maternity Hospital will offer maternity services for families, women, and infants, according to a company statement. "We purposely …

Riyadh – Mubasher: State-run Saudi Aramco has signed an agreement with ACWA Power and US-based Air Products to implement an $8 billion gasification and power joint venture in Saudi Arabia. Set to be located in the oil-rich kingdom’s Jazan Economic …

Dubai - Mubasher: Emirates Islamic Bank (EIB) has launched its 60-second online fund transfer service “QuickRemit” in Pakistan on the South Asian country’s Independence Day. EIB’s Pakistani customers will be able to conduct QuickRemit transfers to …

By: Mahmoud Gamal Dubai – Mubasher: The diplomatic spat between Turkey and the US has stolen the limelight from the disclosures in the UAE markets. This tension began when Turkey refused to release an American evangelical pastor accused of being …

Riyadh – Mubasher: Saudi Arabia will begin establishing a car manufacturing city in the coming period, along with providing a slew of advantages and incentives for investors, the Ministry of Energy, Industry and Mineral Resources said. The …

Dubai – Mubasher: Emirates NBD may save as much as $1 billion in its deal to acquire Turkey’s Denizbank due to the decline in the European country’s currency. The deal’s value, which has stood at $3.2 billion on 22 May, may reach $2.27 billion …

Mubasher: Aayan Leasing and Investment announced that it made an agreement with Mubarrad Holding Co to sell their stakes in three Omani companies. The assets are valued at KWD 3.9 million ($12.9 million) and are considered part of selling Aayan …

Mubasher: Noor Financial Investment announced selling 9 million shares or 0.85% of its equity ownership in Meezan Bank, Pakistan's first and largest Islamic bank. The equity transaction is valued at $5.57 million or KWD 1.68 million, according to …

Riyadh – Mubasher: Saudi Marketing Company (Farm Superstores Co) on Sunday renewed a credit facility agreement with the National Commercial Bank (NCB) at a value of SAR 203.51 million. The finance period extends from April 2018 until the end of …

Riyadh – Mubasher: Saudi Arabia-based Middle East Healthcare Company (Saudi German Hospital) has announced completing about 38% of establishing its new hospital in Dammam. The project’s actual work started on 7 December 2016, while it is expected …

Dubai - Mubasher: dnata announced on Thursday that it has acquired Tropo, a Germany-based tour operator that will be its entry to the German market and extends its global network of travel businesses. The purchase agreement also includes TV media …

Mubasher: Kuwait Finance and Investment (KFIC) has signed an agreement with a leading company in the retail business in Kuwait to acquire a client portfolio valued at about KWD 890,000 in installments. KFIC expected a return ranging from 11% to …

Dubai – Mubasher: Mashreq Bank has announced entering into a strategic deal to develop power projects in Iraq. The deal signed by the Dubai-based bank along with General Electric (GE) and the Trade Bank of Iraq for the development will help …

Dubai – Mubasher: DAMAC Properties has signed an agreement with Radisson Hotel Group to open the first Radisson-branded luxury hotel in the Middle East at the DAMAC Hills Development in Dubai. Currently under construction, the hotel is slated for …

Abu Dhabi – Mubasher: Ras Al Khaimah Ceramics (RAK Ceramics) is planning to invest over AED 300 million ($81.69 million) through acquisitions and expansion in 2018, a top official has said. We expect our profits to remain stable by the end of the …